Florida Gas Prices Hit Four Dollars as Crude Oil Costs Soar
Florida's gas prices have surpassed $4 per gallon for the first time since June. The statewide average of $4.14 a gallon is 23 cents higher than last week, 19 cents more than a month ago, and $1.18 above what drivers paid a year ago.
The West Palm Beach-Boca Raton metro area has the highest gas prices in the state, with an average of $4.30 per gallon. Gainesville is second at $4.21, followed by Naples at $4.19.
Rising crude oil prices are driving the increase, according to AAA. U.S. crude oil prices have climbed nearly 20% over the past two weeks, from around $83 a barrel to above $100 a barrel.
AAA spokesman Mark Jenkins said 'Tensions in the Middle East intensified last week, causing oil prices to surge and increasing the cost of producing gasoline.' The typical weekly price cycle also contributed to the jump, with prices often rising early in the week before easing later.